Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of Income Tax (Expense) Benefit From Continuing Operations



	Current			Deferred			Total
	(in millions)
Year ended December 31, 2012:
U.S. Federal	$	—		$	(0.9	)	$	(0.9	)
State	(4.0		)	0.2			(3.8		)
	$	(4.0	)	$	(0.7	)	$	(4.7	)
Year ended December 31, 2011:
U.S. Federal	$	—		$	1.5		$	1.5
State	(3.5		)	(0.3		)	(3.8		)
	$	(3.5	)	$	1.2		$	(2.3	)
Year ended December 31, 2010:
U.S. Federal	$	21.2		$	(14.9	)	$	6.3
State	2.3			3.1			5.4
	$	23.5		$	(11.8	)	$	11.7

Schedule of Effective Income Tax Rate Reconciliation



	2012					2011					2010
	Percent		Amount			Percent		Amount			Percent		Amount
	(dollars in millions)
Federal income tax (expense) benefit at the statutory rate	35.0	%	$	6.3		(35.0	)%	$	(11.4	)	35.0	%	$	18.4
State income taxes, net of federal tax benefits	(24.2	)%	(4.3		)	(14.9	)%	(4.8		)	5.8	%	3.0
Non-deductible expenses and other	(4.7	)%	(0.8		)	(2.7	)%	(0.8		)	(1.4	)%	(0.7		)
Cancellation of stock options	(11.5	)%	(2.1		)	(3.7	)%	(1.2		)	—	%	—
Non-deductible donation of land	—	%	—			(3.5	)%	(1.2		)	—	%	—
Dividend income from foreign subsidiary	—	%	—			—	%	—			(3.5	)%	(1.8		)
Reserves for unrecognized tax benefits	(0.7	)%	(0.1		)	1.7	%	0.5			4.1	%	2.1
Credits	3.3	%	0.5			3.7	%	1.2			13.7	%	7.2
Change in valuation allowance/reserve of deferred tax assets	(23.2	)%	(4.2		)	47.2	%	15.4			(31.4	)%	(16.5		)
Income tax (expense) benefit from continuing operations	(26.0	)%	$	(4.7	)	(7.2	)%	$	(2.3	)	22.3	%	$	11.7

Allocation of Income Tax (Expense) Benefit Between Continuing Operations, Discontinued Operations and Equity



	For the year ended December 31,
	2012			2011			2010
	(in millions)
Income (loss) from continuing operations before income taxes	$	(17.9	)	$	32.5		$	(52.5	)
Income tax (expense) benefit allocated to continuing operations	(4.7		)	(2.3		)	11.7
Income (loss) from continuing operations	(22.6		)	30.2			(40.8		)
Income (loss) from discontinued operations before income taxes	(9.4		)	(32.9		)	27.1
Income tax (expense) benefit allocated to discontinued operations	0.2			0.2			(9.7		)
Income (loss) from discontinued operations	(9.2		)	(32.7		)	17.4
Net loss	$	(31.8	)	$	(2.5	)	$	(23.4	)
Income tax (expense) benefit allocated to other comprehensive income	$	—		$	0.2		$	—

Schedule of Deferred Tax Assets and Liabilities



	December 31,
	2012			2011
	(in millions)
Deferred tax assets—current:
Workers’ compensation insurance reserve	$	2.7		$	2.6
Allowance for doubtful accounts	3.1			3.0
Legal and merger costs	3.6			2.7
Other	7.7			7.5
Less valuation allowance	(16.4		)	(15.1		)
Total deferred tax assets—current	0.7			0.7
Deferred tax liabilities—current:
Prepaid expenses	(3.9		)	(3.2		)
Total deferred tax liabilities—current	(3.9		)	(3.2		)
Net current deferred tax liabilities	$	(3.2	)	$	(2.5	)
Deferred tax assets—non-current:
Federal tax credit carry-forwards	$	28.9		$	28.3
Federal net operating loss carry-forwards	91.4			77.3
State net operating loss carry-forwards	9.8			11.7
Capital loss carry-forward	6.3			6.4
Deferred compensation	2.6			2.9
Pre-opening expenses capitalized for tax purposes	11.6			10.9
ACDL investment write-down	9.1			—
Share-based compensation expense—book cost	11.9			12.1
Land, building, vessels and equipment, net	—			31.6
Other	18.6			10.8
Less valuation allowance	(184.7		)	(190.3		)
Total deferred tax assets—non-current	5.5			1.7
Deferred tax liabilities—non-current:
Land, building, vessels and equipment, net	(2.9		)	—
Intangible assets	(6.1		)	(5.1		)
Total deferred tax liabilities—non-current:	(9.0		)	(5.1		)
Net non-current deferred tax liabilities	$	(3.5	)	$	(3.4	)

The following table summarizes the total deferred tax assets and total deferred tax liabilities provided in the previous table:



	December 31,
	2012			2011
	(in millions)
Total deferred tax assets	$	207.3		$	207.7
Less valuation allowances	(201.1		)	(205.4		)
Less total deferred tax liabilities	(12.9		)	(8.2		)
Net deferred tax liabilities	$	(6.7	)	$	(5.9	)

Schedule of Unrecognized Tax Benefits

The following table summarizes the activity related to uncertain tax benefits for 2012 and 2011, excluding any interest or penalties:



	2012		2011
	(in millions)
Balance as of January 1	$	7.7	$	8.2
Gross increases - tax positions in prior periods	1.5		1.0
Gross decreases - tax positions in prior periods	—		(0.1		)
Gross increases - tax positions in current period	0.2		0.2
Statute of limitation expirations	—		(1.6		)
Balance as of December 31	$	9.4	$	7.7

- Definition

Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

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